Regulation: CySEC, MiFID, CBC Accepts US Clients: No Min. Deposit: $500 Leverage: 100:1 Platforms: MT4  Overall Rating: 4.7 / 5   (Based on 5 User Reviews)
 

TFIFX Review

 

 

TIFFX Review

TIFFX Review

TFIFX is an online Forex broker that is owned by TFI Markets, one of the oldest Forex brokers that allow for “margin Forex trading” since the year of its establishment in 1999. The online Forex dealing platform, TFIFX came at a later date in 2006. Unlike what most Forex other brokers are doing, TFIFX tend to discourage their clients to trade with high leverages which is good thing in a way. According to the company’s CEO Loucas Marangos, “The industry itself should rethink offered leverage levels rather than wait for regulation to impose caps.”

 

Trading Platforms

The mainstay of TFIFX’s trading platform is the online forex industry standard MetaTrader 4. Nevertheless, TFiFX is also aware of the changing landscape of the online trading world. Thus, for the convenience of their clients, TFIFX also provide the option of trading with a mobile trading platform. 

 

 

  • The MetaTrader 4 Platform
  • Pix2 MT4
  • Ever popular among traders for its robustness, TFIFX MT4 client terminal features numerous tools to helps traders in their quest for maximum profitability. These include:

     

    -          30+ Built-In Technical Indicators 

    -          Analytical Tools for Determining the Price Dynamics

    -          Archival Of Quotes for Future Reference

    -          Expert Advisors (EAs) Testing

    -          Full Screen Display of Charts for Easy Analysis

    -          Numerous Chart Options

    -          Optimized For Expert Advisors (EAs)

     

    • Mobile Trading Platform
    • Pix4 Mobile Trading
    • With the TFIFX mobile trading solutions, Forex traders literally have the world of Forex in the palms of their hands. Now, traders can stayed connected to the mainstay of their trading platform MT4 with the use of Smartphones or iPhones with:

       

      -          TFIFX Mobile Forex iPhone application

      -          TFIFX Mobile Webtrader

      -          TFIFX Windows Mobile Trading Platform

      Safe to say, TFIFX have managed to cover the trading needs of their clients wherever they may be.

       

      Trading Accounts

      At TFIFX, traders have the choice of four (4) types of trading accounts.

       

      • Demo Account

      With the unlimited demo account, traders can familiarize themselves with the TFIFX trading platform. The account comes with $50,000 virtual cash and simulates the actual market conditions which traders are going to face in reality.

       

      • Premium Account

      The Premium Account is geared towards professional traders. Maximum trade size is up to 200 lots in a single trade. This equate to €20 million in monetary value. In addition, premium accounts holders also enjoy the benefit of fixed spreads and trading over the phone is required. For a full list of benefits, please visit their website.

       

      • Corporate Account

      TFIFX’s Corporate Accounts are for corporate clients who want to trade in very high volumes. The main benefits that corporate clients get to enjoy with this type of account are competitive spreads and the dedicated service of the dealing room 24/5.

       

      Commissions and Spreads

      Like most Forex brokers, TFIFX doesn’t charge any commission for their brokerage services. Instead they earn an income by adding Percentage in points (PIPs) to the interbank market rates. The level of spreads added to the interbank rates can be floating or fixed depending on the trading account types. For Power Accounts, the spreads starts from 0.5 pip. For other premium and corporate accounts, the spreads are fixed and pre-agreed.

       

      Customer Service

      As an old timer in the Forex industry, there is no doubt that TFIFX takes the customer support services seriously. Their website is featured in five (5) major languages, English, Russian, Japanese, Italian and Greek. The support team is available 25/5 and can be reached by:

       

      • Requesting a Call Back
      • Emailing them at support@tfifx.com
      • Calling them on at the support number @ +357 22 749 800

       

       

      Reliability

      Without a doubt, in order to stay in business as long as TFIFX, the reliability of the broker must never be tarnished. To help them maintain a pristine track record, TFIFX adopted the following measures:

       

      • Clients’ Accounts Protection through the Investors Compensation Fund scheme
      • Diversification of funds through several major banks to avoid risk concentration
      • Fraud protection
      • Licensed and Regulated
      • Negative Trading Balance Protection
      • Reconciliation of client’s funds in real time to ensure that all trading accounts are kept up to date at all times
      • Segregated Company and clients’ Accounts
      • Working only with Tier 1 Banks

      Pros

      In view of their service performance, there is no doubt that dealing with TFIFX holds several advantages for the average retail trader.

       

      • Access to Investors Compensation Fund Scheme
      • Dedicated Account Manager
      • Equal Pricing & Liquidity for All Clients
      • In-House Daily & Weekly Reports
      • Licensed and Regulated
      • Low Spreads
      • Negative Balance Protection
      • Segregated Accounts
      • High Deposit Bonuses

      Cons

      The only con which I can see is the fact that the average trader has no access to the ECN market rates as TFIFX has yet to adopt the cTrader trading platform as part of their array of trading platforms.

       

      Conclusion

      Overall, TFIFX pass with flying colors as a top rated Forex broker. In fact, TFIFX was the recipient of IBTIMES award for Best Forex Broker in Eastern Europe for 2011. The fact that they have remain in this competitive business for so long speaks volumes about the quality of their services. 

TFIFX User Reviews


Stable and reliable trading Platform

Since I began trading with them, I never had any major problems with my terminal. It shows that their technical people are on the job.



Pros:Good Technical Support and I always have a personal account manager to assist me.

Cons: None

Ease of Access
 
5
Platform Performance
 
5
Reliability
 
5
Customer Support
 
5
Payouts Percentage
 
5
5
 

High Deposit Bonus

They offer one of the highest deposit bonuses around. I stand to get an additional 50% with every deposit I make.



Pros:50% Bonus for every deposit

Cons: No Provision for cTrader

Ease of Access
 
5
Platform Performance
 
4
Reliability
 
5
Customer Support
 
5
Payouts Percentage
 
5
4.8
 

Regulated Broker

Knowing that they are licensed and regulated gives me the confidence of dealing with them



Pros:As they are CySEC regulated, this mean I have access to the investor Compensation Fund insurance scheme should TFIFX ever becomes insolvent.

Cons: Because of the current banking crisis which Cyprus is facing, I am hesitant to have my trading fund held at a Cypriot bank.

Ease of Access
 
5
Platform Performance
 
5
Reliability
 
4
Customer Support
 
5
Payouts Percentage
 
5
4.8
 

Farsighted Broker

Being an existing client of TFIFX, I felt relieved that my funds are safe as they have the foresight to diversify their cash deposit holdings across several major European banks and not just with Cypriot banks. In fact, I have no worries at all regardless of the outcome of the Cyprus banking crisis as none of funds are in Cyprus!



Pros:Professional and farsighted broker with good risk management skills

Cons: It’s a pity that only corporate and premium account holders have access to the best rates. If the average trader were to be given to the ECN market rates, that would be a huge plus for TFIFX.

Ease of Access
 
5
Platform Performance
 
5
Reliability
 
5
Customer Support
 
5
Payouts Percentage
 
4
4.8
 

Very Reputable And Professional Broker

I signed up with them because of their long standing track record. It’s good to know that they are backed by one of the veterans of forex retail brokers, TFI Markets Ltd.



Pros:Long standing reputable broker

Cons: Unlike other brokers, they don’t advocate trading with high leverages. I guess it is part of their company’s direction towards being a responsible broker.

Ease of Access
 
5
Platform Performance
 
5
Reliability
 
5
Customer Support
 
5
Payouts Percentage
 
4
4
 

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